Kentucky Farm Bureau Mutual Insurance Co Acquires Shares of 4,000 Intuit Inc. $INTU

Kentucky Farm Bureau Mutual Insurance Co acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,000 shares of the software maker’s stock, valued at approximately $1,044,000.

Several other hedge funds and other institutional investors also recently modified their holdings of INTU. BlackRock Inc. acquired a new stake in shares of Intuit in the 2nd quarter valued at about $6,851,859,000. Norges Bank acquired a new position in Intuit in the fourth quarter worth about $3,058,407,000. Bank of New York Mellon Corp bought a new stake in Intuit in the second quarter valued at about $564,592,000. Arrowstreet Capital Limited Partnership increased its holdings in Intuit by 102.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,896,561 shares of the software maker’s stock valued at $1,684,795,000 after buying an additional 1,972,719 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in Intuit during the second quarter valued at approximately $426,641,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 3.4%

NASDAQ:INTU opened at $362.47 on Thursday. The firm has a market capitalization of $99.15 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.11 and a beta of 0.97. The stock has a 50 day moving average of $295.58 and a 200-day moving average of $360.88. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $705.10. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.26.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $0.23. The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The business’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $11.65 EPS. Analysts predict that Intuit Inc. will post 18.18 EPS for the current year.

Key Stories Impacting Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit benefited from a broader rotation into enterprise software after weakness in AI hardware stocks. The move suggests traders are reassessing the durability and valuation of software businesses, although it may be a short-term sector trade. Software Stocks Soar in Rotational Trade
• Positive Sentiment: Investor commentary highlighted Intuit’s potential to use AI through its AI-native enterprise resource planning products and Intuit Intelligence chat. A separate investment analysis argued that tax preparation and AI could complement one another, supporting the long-term growth narrative. Intuit Expanding AI-Native ERP
• Positive Sentiment: A GuruFocus analysis cited a GF Score of 78, reflecting relatively favorable quality, growth, profitability, and valuation characteristics. Intuit’s latest reported quarter also showed year-over-year revenue growth and an earnings-per-share beat, providing fundamental support for the rebound. Intuit GF Score Analysis

Wall Street Analysts Forecast Growth

A number of research firms have commented on INTU. BNP Paribas Exane reduced their target price on Intuit from $463.00 to $315.00 and set a “neutral” rating on the stock in a report on Thursday, May 21st. KeyCorp dropped their price target on Intuit from $520.00 to $450.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Jefferies Financial Group reduced their price objective on Intuit from $650.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Susquehanna decreased their price objective on shares of Intuit from $550.00 to $427.00 and set a “positive” rating for the company in a report on Monday, July 20th. Finally, Oppenheimer decreased their price objective on shares of Intuit from $558.00 to $406.00 and set an “outperform” rating for the company in a report on Thursday, May 21st. Twenty investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $451.26.

Insiders Place Their Bets

In related news, Director Richard L. Dalzell sold 338 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $279.86, for a total transaction of $94,592.68. Following the completion of the transaction, the director directly owned 12,326 shares in the company, valued at $3,449,554.36. This represents a 2.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 1,250 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $309.45 per share, for a total transaction of $386,812.50. Following the completion of the transaction, the director directly owned 1,250 shares of the company’s stock, valued at $386,812.50. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,239 shares of company stock valued at $348,354. 2.49% of the stock is owned by company insiders.

Intuit Company Profile

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.